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Axon Enterprise vs Wrap Technologies: revenue, profit, margins and growth compared

Axon Enterprise brought in $2.8B of revenue in fiscal 2025, Wrap Technologies $4.7M in fiscal 2025. Revenue changed by +33.5% at Axon Enterprise and +3.7% at Wrap Technologies on the year before, so Axon Enterprise grew faster. Axon Enterprise kept 4.5% of its revenue as net profit, Wrap Technologies -221.2%. Free cash flow was $75.1M at Axon Enterprise and -$10.4M at Wrap Technologies.

Side by side, latest fiscal year

AXONWRAP
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.8B$4.7M
Revenue growth+33.5%+3.7%
Net income$124.7M-$10.3M
Net margin4.5%-221.2%
Free cash flow$75.1M-$10.4M
Free cash flow margin2.7%-222.4%
Earnings per share (diluted)$1.51-$0.22
Cash$1.2B$3.5M
Debt$1.8Bn/a
Price to earnings284.8n/a
Market value$34.9B$81.2M
Dividend yieldn/an/a
Rank by revenue in sector#190 of 451 · Industrials#434 of 451 · Industrials

Over the years

Revenue
AXON FY2018: $420.1MAXON FY2019: $530.9MAXON FY2020: $681MAXON FY2021: $863.4MAXON FY2022: $1.2BAXON FY2023: $1.6BAXON FY2024: $2.1BAXON FY2025: $2.8BWRAP FY2018: $23.2KWRAP FY2019: $696.8KWRAP FY2020: $3.9MWRAP FY2021: $7.7MWRAP FY2022: $8MWRAP FY2023: $6.1MWRAP FY2024: $4.5MWRAP FY2025: $4.7MFY18FY19FY20FY21FY22FY23FY24FY25
AXON $2.8BWRAP $4.7M
Net income
AXON FY2018: $29.2MAXON FY2019: $882KAXON FY2020: -$1.7MAXON FY2021: -$60MAXON FY2022: $146.9MAXON FY2023: $175.8MAXON FY2024: $377MAXON FY2025: $124.7MWRAP FY2018: -$3.3MWRAP FY2019: -$8.3MWRAP FY2020: -$12.6MWRAP FY2021: -$24.4MWRAP FY2022: -$17.6MWRAP FY2023: -$30.2MWRAP FY2024: -$5.9MWRAP FY2025: -$10.3MFY18FY19FY20FY21FY22FY23FY24FY25
AXON $124.7MWRAP -$10.3M
Net margin
AXON FY2018: 7.0%AXON FY2019: 0.2%AXON FY2020: -0.3%AXON FY2021: -7.0%AXON FY2022: 12.4%AXON FY2023: 11.3%AXON FY2024: 18.1%AXON FY2025: 4.5%WRAP FY2018: -14,412.2%WRAP FY2019: -1,194.8%WRAP FY2020: -319.0%WRAP FY2021: -316.3%WRAP FY2022: -218.9%WRAP FY2023: -492.7%WRAP FY2024: -130.4%WRAP FY2025: -221.2%FY18FY19FY20FY21FY22FY23FY24FY25
AXON 4.5%WRAP -221.2%
Revenue growth
AXON FY2019: +26.4%AXON FY2020: +28.3%AXON FY2021: +26.8%AXON FY2022: +37.5%AXON FY2023: +31.5%AXON FY2024: +33.4%AXON FY2025: +33.5%WRAP FY2019: +2,909.9%WRAP FY2020: +466.0%WRAP FY2021: +96.0%WRAP FY2022: +4.1%WRAP FY2023: -23.8%WRAP FY2024: -26.5%WRAP FY2025: +3.7%FY19FY20FY21FY22FY23FY24FY25
AXON +33.5%WRAP +3.7%
Free cash flow
AXON FY2018: $52.7MAXON FY2019: $49.7MAXON FY2020: -$34.1MAXON FY2021: $74.6MAXON FY2022: $179.6MAXON FY2023: $129.6MAXON FY2024: $329.5MAXON FY2025: $75.1MWRAP FY2018: -$2.7MWRAP FY2019: -$8.7MWRAP FY2020: -$12.4MWRAP FY2021: -$19.2MWRAP FY2022: -$14.9MWRAP FY2023: -$16.9MWRAP FY2024: -$8.1MWRAP FY2025: -$10.4MFY18FY19FY20FY21FY22FY23FY24FY25
AXON $75.1MWRAP -$10.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Axon Enterprise and Wrap Technologies

Which is bigger by revenue, Axon Enterprise or Wrap Technologies?

Axon Enterprise is bigger by revenue: $2.8B in fiscal 2025, against $4.7M for Wrap Technologies in fiscal 2025.

Which keeps more of its revenue as profit, Axon Enterprise or Wrap Technologies?

Axon Enterprise had a net margin of 4.5% in fiscal 2025; Wrap Technologies had -221.2% in fiscal 2025.

Which grew revenue faster, Axon Enterprise or Wrap Technologies?

In their latest fiscal years revenue changed by +33.5% at Axon Enterprise and +3.7% at Wrap Technologies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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